Industry & Economy
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Coal
Montek calls for a rethink on coal pricing
Our Bureau
New Delhi
,
Feb. 14
THE Deputy Chairman of the Planning Commission, Mr Montek Singh Ahluwalia, on Tuesday said that the current global crude oil prices should not be viewed as "temporary peak" and hinted that prices may not see a downward correction in the next few years.
"With India and China wanting to grow, it is going to be very difficult to assume that the high oil prices are going to be reversed," he said in his inaugural address at a national conclave on `India's energy security: Major challenges', organised by Observer Research Foundation.
Indicating that the country would have to take a re-look at its energy policy and with an integrated approach, Mr Ahluwalia said there was the need to focus on coal pricing, as the country had not really done enough of what would make a rational pricing system for coal.
"Whatever we do, coal would remain the largest single source of primary energy. Over a 20-year horizon, if oil prices are going to remain high, on the coal pricing front we need to do some kind of rethink," he said, adding that domestic coal prices have traditionally been kept low.
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